Regulations under Section 457(b) of the Code define an unforeseeable emergency as a severe financial hardship resulting from:

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Regulations under Section 457(b) of the Code define an unforeseeable emergency as a severe financial hardship resulting from:"

Transcription

1 Section 457(b) Plan Administrator s Guide To Unforeseeable Emergency Withdrawals By: Gay Lynn Bath, Deferred Compensation Manger of the Oregon Savings Growth Plan and Roderick Crane, Director of Institutional Business Development for TIAA-CREF Individual & Institutional Services, LLC Section 457(b) Plans may (but are not required to) offer participants the ability to take an in-service withdrawal in the event of an unforeseeable emergency. While 457(b) plans typically offer an unforeseeable emergency withdrawal option, most plan sponsors would agree that this feature is one of the most difficult to administer. Why is unforeseeable emergency administration so difficult? The source of the difficulty in administering 457(b) unforeseeable emergency provisions lies primarily with the law and related regulations. Unforeseeable emergency withdrawal provisions are difficult to administer because so many of the legal requirements are not well defined. Regulations under Section 457(b) of the Code define an unforeseeable emergency as a severe financial hardship resulting from: an illness or accident, the loss of property due to casualty loss (including the need to rebuild a home following damage to a home not otherwise covered by homeowner s insurance, e.g., as a result of a natural disaster), or any other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the individual s control. The IRS has not provided much guidance on the key parts of this definition. In particular, no substantial guidance on what is meant by the terms severe or unforeseeable has been issued. Plan administrators have been left with what amounts to a subjective facts and circumstances test for adjudicating unforeseeable emergency withdrawal requests. Many plan administrators have tried to streamline and simplify administration by creating lists of events and expenses that are eligible or ineligible. While helpful, it is also clear that making such lists is an endless proposition because of the myriad of circumstances and situations the participants present when making withdrawal requests. This Guide is intended to help plan sponsors understand the basic requirements and some best practices for the design and sound administration of this common but difficult to administer 457(b) plan feature. Does the unforeseeable emergency withdrawal option need to be part of the plan document? 1

2 . The 457(b) regulations make it clear that the unforeseeable emergency option must be a written provision in the plan document before it can be offered. What are some common best practices for designing and administering 457(b) unforeseeable emergency withdrawal provisions? As with other aspects of plan administration, consistency is important. Realize that plan sponsors set a precedent of sorts with each granted request, and that participants will expect similar treatment from their perspective for their situation. While consistency of administration is not a guarantee that each and every decision will satisfy IRS scrutiny, it is evidence of good faith compliance that may be helpful. A written policy detailing the established procedures and objective standards for administering unforeseeable emergency withdrawal features is also advisable. Written policies need not (nor could such be expected to) address all the possible circumstances that may arise. However, a written policy that 1) identifies the process to be followed, 2) the standards to be applied and 3) circumstances that clearly qualify or do not qualify as eligible unforeseeable emergencies can help streamline administration. Having a written unforeseeable emergency withdrawal policy also helps demonstrate good faith compliance to the IRS. The written policy should be adopted by the plan fiduciaries and should clearly identify responsibilities that have been delegated to committees, staff or to third-party service providers and appeal procedures. What are the requirements for reviewing unforeseeable emergency requests? There are seven basic requirements that an individual must meet in order to be eligible for an unforeseeable emergency withdrawal under 457(b). The accompanying flow chart identifies each of these requirements and provides a process that administrators may wish to consider for reviewing unforeseeable emergency requests. 2

3 Is there a severe financial emergency? Does it result from claimed event? Was the event unforeseeable? Was it incurred by an eligible person? Deny Claim Is the expense not otherwise covered/payable by other means not otherwise creating a hardship? Is sufficient documentation provided? Is the amount requested less than or equal to the financial need? Limit Claim to Amount Needed Approve Claim 3

4 What does severe financial hardship mean? The 457(b) regulations do not define what constitutes a severe financial hardship. Because IRS guidance has been limited in this area, administrative practices vary rather widely. Some practices have evolved that may be helpful to plan administrators. One of the clearer and more understandable approaches is to adopt something similar to the immediate and heavy standard used for administering the hardship distribution provisions under 401(k) and 403(b) plans. Under this standard, a 457(b) plan participant would have to show that the financial hardship is Immediate The requested withdrawal is needed currently and not at some later date, and Heavy The size of the resulting financial burden must be large enough to create a hardship to the individual. This is a subjective test and will depend on the facts and circumstances of each case. For example, a $1,000 uninsured medical bill for a person with family income of $15,000 per year is more likely be judged to be a heavy financial burden, while it may not be for an individual with family income of $150,000. Some plan sponsors have used other standards, including requiring the financial hardship to be catastrophic, sudden, or unexpected. These are all permitted under federal law. Regardless of what standard a plan uses to define what a severe financial hardship is, it will mean applying a facts and circumstances test. Does the severe financial hardship have to be directly caused by the unforeseen event? The 457(b) regulations state that the financial hardship must be the result of the events in question. There has been no further IRS guidance as to how connected the event has to be to the claimed financial hardship. Plan administrators should require, however, that the individual identify the emergency event and explain how the event contributed to the financial hardship. Some causal connection between the event and the financial hardship must be shown. What does unforeseeable mean? The regulations identify the following as events that will be considered unforeseeable: Illness Accident Casualty loss Illness and accidents are generally understandable and recognizable events. Casualty is not further explained by the IRS, but is commonly understood to include other sudden, unexpected or unusual events, such as fires, storms, lightning, earthquakes and other natural or weather related disasters. Unfortunately, except for the three events noted above, there really is no easy test or clear standard to determine the existence of an unforeseeable emergency. The 457 regulations 4

5 state that the existence of an unforeseeable emergency is to be determined based on the relevant facts and circumstances of each case in other words by your interpretation and best judgment. Some questions to ask in every case include: Were events beyond the individual s control? Could the situation have been anticipated, avoided or budgeted? While applicable federal law and related regulations do not identify any formal reasonableness standard for determining whether an emergency was unforeseeable, it is clear that the IRS expects unforeseeable emergency withdrawal provisions to be administered under objective standards that are consistently applied. Plan sponsors should establish policies that determine unforeseeability from the perspective of a reasonable and prudent person. Whose emergency does it have to be? The illness, loss, or other unforeseeable emergency can be that of: the participant the participant s spouse the participant s dependent for Code Section 152 tax purposes (e.g. a minor child, relative or other individual who lives with the participant full time and receives over half of his or her support from the participant) or the participant s beneficiary under the Plan. (The Pension Protection Act of 2006 added this optional category.) Has the IRS provided any other guidance or examples of what is or may be an unforeseeable emergency? The IRS has specifically ruled out the elective purchase of a home or college tuition as unforeseeable emergencies. (te that these two events are probably eligible as financial hardship in-service distribution events for a 401(k) or 403(b) plan.) The IRS has also said that foreclosure or eviction, medical expenses, and funeral payments may be, but are not necessarily always, unforeseeable emergencies. What are some examples of events that are generally considered not to be unforeseeable emergencies? The following are examples of expenses that, standing on their own, ordinarily would not qualify as a severe financial hardship because there is no unforeseeable emergency involved. These are situations where the individual 1) had significant control or 2) could have reasonably and prudently anticipated, avoided or budgeted for the event. Cost of education/tuition rmal monthly expenses e.g., utility bills, mortgage or rent payments Payment on credit cards or loans Payment of federal, state, local or property taxes 5

6 Elective purchase, maintenance or remodeling of a home or other real estate Costs associated with divorce or separation Purchase of automobile other transportation expenses Automobile or appliance maintenance Elective or cosmetic surgery Routine medical, dental or orthodontic services Bankruptcy Legal judgments and legal fees Investment losses Gambling losses Wage garnishment Costs of adoption Child support payments It is important to note, however, that where there is a demonstrated unforeseeable emergency, some of these expenses may be considered as a severe financial hardship. For example, if a natural disaster strikes an area and an individual loses their house and their job, they could ask for an unforeseeable emergency distribution. The basis for this unforeseeable emergency distribution would be a loss of income that the participant could use to cover ordinary expenses, including credit card payments. The unforeseeable emergency distribution could not exceed the participant s income loss. An unforeseeable emergency distribution could also be granted in this example to buy a new primary residence. However, the unforeseeable emergency distribution would have to be reduced by any insurance and other benefits the participant receives from other sources related to the housing loss. This illustrates why it is so difficult to develop comprehensive lists of situations and expenses that will be eligible under the unforeseeable emergency rules and why it is so important to develop clear and consistent standards and processes for making decisions in this area. Does an individual need to use other financial resources first before seeking an unforeseeable emergency withdrawal?, the regulations provide that the individual should only withdraw assets intended as retirement savings in the Plan as a last resort. To that end, the following requirements must typically be met: Insurance coverage is either not available or is insufficient to cover the financial need caused by the unforeseeable emergency. The need cannot be satisfied by taking a loan from the Plan, from other plans of the employer, or from commercial lenders. The need cannot be met by stopping contributions under the Plan and/or any other plan of the employer with elective deferrals. The need wouldn t be satisfied through the liquidation of the participant s assets, as long as the liquidation itself doesn t impose further unreasonable hardship. 6

7 What kind of documentation is generally required with an unforeseeable emergency withdrawal request? The decision to grant or deny an unforeseeable emergency withdrawal request must be based on sufficient evidence indicating the emergency is extraordinary and unforeseeable. The participant must file a written request and provide all necessary and requested supporting proof and documentation. (On their website listing of top 403(b)/457(b) compliance issues, the IRS lists inadequate documentation, lack of proper internal controls, and distributions that exceed the amount needed as common violations in unforeseeable emergency withdrawal administration.) While the IRS has not provided guidance as to how much evidence is necessary, it is relatively clear that the mere statement by an applicant without an offer of proof is likely insufficient. Some examples of commonly required documentation include: A written explanation of the circumstances giving rise to the withdrawal request Explanation of Benefits (EOB) for medical bills. Written notice of eviction/foreclosure Pay stubs Worker s compensation or disability payments Bills, receipts, or statements for funeral, repairs to home, attorneys fees, etc. Personal financial statements Loan denial letters from commercial lenders Foreclosure or eviction notices/documents Other documentation or proof may be necessary depending on the nature of the emergency event and the financial hardship. Can adding a plan loan feature decrease the burdens of administering an unforeseeable emergency feature?. Plan loans can be offered by 457(b) plans and are being increasingly considered as an alternative way for participants to gain access to their accounts when needed. Federal law and regulations allow loan features to be offered without requiring participants to meet the extraordinary and unforeseeable emergency standard that is so difficult to administer. Plan sponsors concerned about making participant retirement savings too available can impose limitations on the availability of plan loans. For example, a plan sponsor could require that plan loans can be made available only for hardships permitted for 401(k) and 403(b) plans. Adding a plan loan feature may lessen the time and effort spent administering unforeseeable emergency withdrawal requests. However, plan loans add their own complexities that should be assessed carefully before being added, including administering loan repayments and defaults. 7

8 What taxation and reporting rules apply to unforeseeable emergency distributions? Unforeseeable emergency withdrawals are taxable to the participant as ordinary income. Under IRS tice , unforeseeable emergency withdrawals are non-periodic payments that are reported on Form 1099R for federal and state income tax purposes. Unforeseeable emergency distributions are not eligible rollover distributions and are subject to withholding under 3405(b) at a 10-percent rate, unless the recipient elects not to have withholding apply. Can an unforeseeable emergency withdrawal be paid back?. An unforeseeable emergency withdrawal is not a loan. Further, because the participant may not be allowed to contribute for up to 12 months, the participant will likely miss out on the opportunity to make even regular contributions until the plan allows contributions to begin again. However, subject to the regular annual deferral limits, once the participant is again eligible to contribute, additional contributions could be made at that time to make up for the amounts withdrawn. Does an unforeseeable emergency withdrawal affect the amount that can be deferred in the year of the hardship?. A participant may still contribute up to the regular deferral limit for that year. Again, however, because the plan may prohibit participant to make contributions for up to 12 months, the participant most likely will not reach the limit for that year. Does an unforeseeable emergency withdrawal affect the amount a participant can contribute under the Age 50 or 3-year catch up feature?. The unforeseeable emergency withdrawal does not reduce the amount of a participant s Age 50 or 3-year catch-up calculation. About the Authors: Gay Lynn Bath Ms. Bath is the Deferred Compensation Manager for the Oregon Savings Growth Plan in Salem, Oregon. In that capacity, she administers a $1 billion 457 plan for the benefit of state and local government employees in Oregon. Prior to moving to Oregon in 2004, she was the 401(k) Plan Administrator for the Public Retirement System of Idaho (PERSI) for three years. Before working in the public realm, Gay Lynn was a 401(k) Plan Administrator for two years at a technology manufacturing company in Nampa, Idaho. Roderick Crane Mr. Crane is a national authority on public sector retirement plans and is responsible for developing and executing strategies for the state and local government 401(a), 457, 401(k) and 403(b) markets for TIAA-CREF. Before joining TIAA-CREF, Mr. Crane was a senior consultant with The Segal Company and Mercer Human Resources Consulting. During this 22-year period, he worked primarily with large state and local governments on the design and administration of their defined benefit and defined contribution retirement programs as well as their deferred compensation and retiree health savings plans. Prior to entering the benefits consulting arena, he served as staff legal counsel for the rth Dakota Legislative Assembly and its public employee retirement oversight committee. 8

State of Arizona 457 Deferred Compensation Program

State of Arizona 457 Deferred Compensation Program State of Arizona 457 Deferred Compensation Program Administered by Nationwide Retirement Solutions 4747 N. 7th Street, Suite 418 Phoenix, AZ 85014 (602) 266-2733 Dear Participant: The Unforeseeable Emergency

More information

City of Phoenix 457 Deferred Compensation Program Unforeseeable Emergency Withdrawal Application

City of Phoenix 457 Deferred Compensation Program Unforeseeable Emergency Withdrawal Application City of Phoenix 457 Deferred Compensation Program Unforeseeable Emergency Withdrawal Application Administered by Nationwide Retirement Solutions 4747 N. 7th Street, Suite 418 Phoenix, AZ 85014 Local Office:

More information

457 Plan Unforeseeable Emergency Withdrawal Request

457 Plan Unforeseeable Emergency Withdrawal Request 457 Plan Unforeseeable Emergency Withdrawal Request Fax: 1-888-310-6019 www.copera.org COLORADO PERA 457Plan After you have read all of the following information, complete the 457 Plan Unforeseeable Emergency

More information

Miami-Dade 457 Deferred Compensation Plan Unforeseeable Emergency Distribution Application

Miami-Dade 457 Deferred Compensation Plan Unforeseeable Emergency Distribution Application Explanation & Information About Requests for Unforeseeable Emergencies As your Deferred Compensation Plan Administrator, we are pleased to provide you with information regarding your request for an Unforeseeable

More information

Important information about our Unforeseeable Emergency Application

Important information about our Unforeseeable Emergency Application Page 1 of 4 Questions? Call 877-NRS-FORU (877-677-3678) Visit us online Go to nrsforu.com to learn about our products, services and more. Important information about our Unforeseeable Emergency Application

More information

457 EMERGENCY WITHDRAWAL PACKET. City of Madison, Wisconsin

457 EMERGENCY WITHDRAWAL PACKET. City of Madison, Wisconsin 457 EMERGENCY WITHDRAWAL PACKET City of Madison, Wisconsin This packet consists of: Instructions Emergency Withdrawal Application Emergency Withdrawal Worksheet 457 EMERGENCY WITHDRAWAL PACKET INSTRUCTIONS

More information

TRISTAR PENSION CONSULTING

TRISTAR PENSION CONSULTING TRISTAR PENSION CONSULTING 4/1/2005 Guide to Distributions from 401(k) Plans Introduction Rollover vs. Cash Distribution Mandatory Federal Tax Withholding 10% Premature Distribution Penalty Retirement

More information

Section 457(b) Plan. What is a Section 457(b) plan? What types of employers can use a Section 457(b) plan? Section 457(b) plans and ERISA

Section 457(b) Plan. What is a Section 457(b) plan? What types of employers can use a Section 457(b) plan? Section 457(b) plans and ERISA Section 457(b) Plan What is a Section 457(b) plan? A Section 457(b) plan is a type of nonqualified deferred compensation plan that certain governmental and tax-exempt organizations can establish for their

More information

AUI Supplemental Retirement Annuity Plan Summary Plan Description

AUI Supplemental Retirement Annuity Plan Summary Plan Description AUI Supplemental Retirement Annuity Plan Summary Plan Description November 2011 TABLE OF CONTENTS PAGE 1. What kind of plan is this?...1 2. Who is eligible to participate in the Plan?...2 3. Do I need

More information

UNFORESEEABLE EMERGENCY WITHDRAWAL REQUEST FROM A NONQUALIFIED DEFERRED COMPENSATION PLAN

UNFORESEEABLE EMERGENCY WITHDRAWAL REQUEST FROM A NONQUALIFIED DEFERRED COMPENSATION PLAN To check the status of your request or ask any questions: Call 800 842-2252 Monday Friday 8 a.m. 10 p.m. (ET) Saturday 9 a.m. 6 p.m. (ET) Your decisions regarding an unforeseeable emergency withdrawal

More information

The Split Personalities of 457(b) Nonqualified Plans

The Split Personalities of 457(b) Nonqualified Plans VOLUME 39, NUMBER 3 JOURNAL of PENSION PLANNING & COMPLIANCE Editor-in-Chief: Bruce J. McNeil, Esq. FALL 2013 JPPC The Split Personalities of 457(b) Nonqualified Plans DANIEL SCHWALLIE Daniel Schwallie,

More information

HOOD COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

HOOD COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION HOOD COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN ARTICLE I PARTICIPATION IN THE PLAN Am I eligible to participate in the Plan?...1

More information

SUMMARY PLAN DESCRIPTION FOR MARC CENTER 401(K) RETIREMENT PLAN

SUMMARY PLAN DESCRIPTION FOR MARC CENTER 401(K) RETIREMENT PLAN . SUMMARY PLAN DESCRIPTION FOR MARC CENTER 401(K) RETIREMENT PLAN Marc Center 401(k) Retirement Plan Summary Plan Description Table of Contents DESCRIPTION PAGE. INTRODUCTION 1 GENERAL INFORMATION 2 PARTICIPATION

More information

IRS AUDIT CHECKLIST FOR 403(b)s & 457(b)s

IRS AUDIT CHECKLIST FOR 403(b)s & 457(b)s IRS AUDIT CHECKLIST FOR 403(b)s & 457(b)s Years under examination: (For use by IRS beginning with the 2009 year) The first meeting for the examination of your plans will be a conference to discuss what

More information

AUBURN UNIVERSITY. 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN

AUBURN UNIVERSITY. 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN AUBURN UNIVERSITY 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN Effective September 6, 2012 AUBURN UNIVERSITY 457(b) DEFERRED COMPENSATION PLAN SUMMARY EXPLANATION OF THE PLAN TABLE

More information

Any questions about your benefits under the 401(k) Plan should be directed to your Human Resources representative.

Any questions about your benefits under the 401(k) Plan should be directed to your Human Resources representative. Summary Plan Description Background The COUNTRY/IAA 401(k) Plan, (the Plan or the 401(k) Plan) is a defined contribution plan that provides retirement benefits. The Employee Retirement Income Security

More information

Information About Your Hardship Withdrawal Request. Types of Requests

Information About Your Hardship Withdrawal Request. Types of Requests Information About Your Hardship Withdrawal Request A Hardship Withdrawal from a 401(k) Plan is subject to IRS Regulations. Please review the following information before completing the Request form. Types

More information

Summary Plan Description. of the. BECKMAN PRODUCTION SERVICES 401(k) PLAN

Summary Plan Description. of the. BECKMAN PRODUCTION SERVICES 401(k) PLAN Summary Plan Description of the BECKMAN PRODUCTION SERVICES 401(k) PLAN 2015 TO OUR EMPLOYEES Beckman Production Services, Inc. ( Company ) established the Beckman Production Services 401(k) Plan ( Plan

More information

401(k) Summary Plan Description

401(k) Summary Plan Description 401(k) Summary Plan Description WELLSPAN 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION I I PRIOR TO II III I TABLE OF TO YOUR PLAN What kind of Plan is this? 5 What information does this Summary

More information

401(k) Contribution rules

401(k) Contribution rules The 401(k) plan is a type of employer-sponsored retirement plan named after a section of the U.S. Internal Revenue Code. A 401(k) plan allows a worker to save for retirement while deferring income taxes

More information

SUMMARY DESCRIPTION OF THE. University of Mississippi 403(b) PLAN

SUMMARY DESCRIPTION OF THE. University of Mississippi 403(b) PLAN SUMMARY DESCRIPTION OF THE University of Mississippi 403(b) PLAN ("The Plan") PLEASE READ THIS CAREFULLY AND KEEP FOR FUTURE REFERENCE. January 2013 CONTENTS 1. INTRODUCTION... 1 2. IMPORTANT PLAN INFORMATION...

More information

GOLD CROSS SERVICES, INC. 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION

GOLD CROSS SERVICES, INC. 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION GOLD CROSS SERVICES, INC. 401(K) RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?...

More information

PRO-SPHERE 401(K) PLAN SUMMARY PLAN DESCRIPTION

PRO-SPHERE 401(K) PLAN SUMMARY PLAN DESCRIPTION PRO-SPHERE 401(K) PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE I PARTICIPATION IN THE

More information

Similarities and Differences of Hardship Distributions Among Defined Contribution Plans

Similarities and Differences of Hardship Distributions Among Defined Contribution Plans Similarities and Differences of Hardship Distributions Among Defined Contribution Plans By Joann Albrecht, CPC, QPA, Technical Consultant, Nationwide Retirement Solutions Introduction Section 401(k), 403(b)

More information

Deferred Compensation Handbook. Department of Employee Services Risk & Benefits Division 2051 Kaen Road, Ste. 310 Oregon City, OR 97045 503-655-8459

Deferred Compensation Handbook. Department of Employee Services Risk & Benefits Division 2051 Kaen Road, Ste. 310 Oregon City, OR 97045 503-655-8459 Clackamas County Deferred Handbook Department of Employee Services Risk & Benefits Division 2051 Kaen Road, Ste. 310 Oregon City, OR 97045 503-655-8459 TABLE OF CONTENTS Introduction... 1 What is Deferred?...

More information

NOTICE OF HARDSHIP WITHDRAWAL

NOTICE OF HARDSHIP WITHDRAWAL NOTICE OF HARDSHIP WITHDRAWAL The current Plan provides that certain amounts may be withdrawn if you have a financial hardship. This hardship distribution is not in addition to your other benefits and

More information

ROCKY MOUNTAIN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

ROCKY MOUNTAIN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION ROCKY MOUNTAIN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN ARTICLE I PARTICIPATION IN THE PLAN Am I eligible to participate in the

More information

Supplemental 457(b) Plan Guide. A quick reference for governmental plan sponsors

Supplemental 457(b) Plan Guide. A quick reference for governmental plan sponsors Supplemental 457(b) Plan Guide A quick reference for governmental plan sponsors For Institutional Investor Use Only. Not for Use With or Distribution to the Public. Table of Contents Introduction 1 457(b)

More information

Summary Plan Description. PetSmart, Inc. SaveSmart 401(k) Plan

Summary Plan Description. PetSmart, Inc. SaveSmart 401(k) Plan Summary Plan Description PetSmart, Inc. SaveSmart 401(k) Plan As Revised Effective January 1, 2010 TABLE OF CONTENTS INTRODUCTION... - 1 - Type of Plan... - 1 - Plan Sponsor... - 1 - Purpose of This Summary...

More information

Eagle Systems, Inc. Tax Deferred Savings Plan & Trust (EAG) FINANCIAL HARDSHIP REQUEST FORM

Eagle Systems, Inc. Tax Deferred Savings Plan & Trust (EAG) FINANCIAL HARDSHIP REQUEST FORM Participant Information Eagle Systems, Inc. Tax Deferred Savings Plan & Trust (EAG) FINANCIAL HARDSHIP REQUEST FORM Name: SSN: Address: City: State: Zip: *Phone: *Email: Date of Birth: / / Hours Worked

More information

457(b) RSP DISTRIBUTION FORM

457(b) RSP DISTRIBUTION FORM 457(b) RSP DISTRIBUTION FORM Death Claims These are given special handling by JEM. Please call us at call 1-800-943-9179 for assistance. Participant Information First Name MI Last Employer Street Address

More information

Peach State Reserves PEACH STATE RESERVES FAQ. Peach State Reserves General Questions

Peach State Reserves PEACH STATE RESERVES FAQ. Peach State Reserves General Questions Peach State Reserves PEACH STATE RESERVES FAQ Peach State Reserves General Questions What is Peach State Reserves The Georgia Retirement Investment Plan? What is a Deferred Compensation/Defined Contribution

More information

ANNUITY HARDSHIP WITHDRAWAL PROVISIONS

ANNUITY HARDSHIP WITHDRAWAL PROVISIONS Connecticut Pipe Trades Local 777 Annuity Fund 1155 Silas Deane Hwy. Wethersfield, CT 06109 Phone (860) 571-9191 Fax (860) 571-9221 www.connecticutpipetrades.com ANNUITY HARDSHIP WITHDRAWAL PROVISIONS

More information

SUMMARY PLAN DESCRIPTION

SUMMARY PLAN DESCRIPTION SUMMARY PLAN DESCRIPTION INTERSTATE BATTERIES PROFIT SHARING & 401(K) PLAN This Summary Plan Description (the SPD), including the Summaries of Material Modification (SMM), is meant to describe highlights

More information

New Hanover Regional Medical Center 403(b) and 457(b) Retirement Savings Plans

New Hanover Regional Medical Center 403(b) and 457(b) Retirement Savings Plans New Hanover Regional Medical Center 403(b) and 457(b) Retirement Savings Plans Mutual Fund Safe Harbor Request For Hardship Withdrawal Group ID# 45944003 Group ID# 45944002 1. CLIENT INFORMATION Name:

More information

PACE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION. January 1, 2010

PACE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION. January 1, 2010 PACE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION January 1, 2010 1674859.3 7/19/2010 TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN ARTICLE I PARTICIPATION IN THE PLAN Am I eligible

More information

Deferred Vesting Retirement Plan Summary Plan Description. Introduction

Deferred Vesting Retirement Plan Summary Plan Description. Introduction Introduction Brown University maintains two 403(b) retirement plans for faculty and staff: The Legacy Retirement Plan, for those hired before March 1, 2001*, and the Deferred Vesting Retirement Plan, for

More information

403(b) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

403(b) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION 403(b) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION January 1, 2010 GONZAGA UNIVERSITY 403(b) RETIREMENT PLAN I. INTRODUCTION... 1 II. PLAN DATA... 1 III. DEFINITIONS... 2 Compensation.... 2 Disability...

More information

10/21/2014. Benefit Issues for Employees in Personal Crisis. Common Benefits Issues for Difficult Life Circumstances

10/21/2014. Benefit Issues for Employees in Personal Crisis. Common Benefits Issues for Difficult Life Circumstances Benefit Issues for Employees in Personal Crisis Lori W. Jones, J.D., LL.M. HRMA Conference Common Benefits Issues for Difficult Life Circumstances Divorce Death Hardship Incapacity Bankruptcy COBRA Loss

More information

Union College 457(b) Deferred Compensation Plan

Union College 457(b) Deferred Compensation Plan 457(b) Deferred Compensation Plan Plan Description is pleased to offer the 457(b) Deferred Compensation Plan (the "457(b) Plan") which was amended and restated as of January 1, 2016. The 457(b) Plan is

More information

Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION

Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN...1

More information

PDS 401(k) Plan for Engineering Sector Employees Summary Plan Description April, 2015

PDS 401(k) Plan for Engineering Sector Employees Summary Plan Description April, 2015 PDS 401(k) Plan for Engineering Sector Employees Summary Plan Description April, 2015 TABLE OF CONTENTS INTRODUCTION TO THE PLAN... 1 GENERAL INFORMATION ABOUT THE PLAN... 2 ELIGIBILITY AND PARTICIPATION...

More information

THE CITY OF GALLATIN 401(K) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION

THE CITY OF GALLATIN 401(K) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION THE CITY OF GALLATIN 401(K) RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE

More information

tiaa-cref 403(b) Plan Fundamentals: Your Guide to Compliance Update: Loan Administration and Hardship Withdrawals

tiaa-cref 403(b) Plan Fundamentals: Your Guide to Compliance Update: Loan Administration and Hardship Withdrawals tiaa-cref 403(b) Plan Fundamentals: Your Guide to Compliance Update: Loan Administration and Hardship Withdrawals For Institutional Investor Use Only. Not for Use With or Distribution to the Public. 2

More information

COLLIERS INTERNATIONAL USA, LLC And Affiliated Employers 401(K) Plan DISTRIBUTION ELECTION

COLLIERS INTERNATIONAL USA, LLC And Affiliated Employers 401(K) Plan DISTRIBUTION ELECTION 1. EMPLOYEE INFORMATION (Please print) COLLIERS INTERNATIONAL USA, LLC And Affiliated Employers 401(K) Plan DISTRIBUTION ELECTION Name: Address: Social Security No.: Birth Date: City: State: Zip: Termination

More information

RESOLUTION TECHNOLOGIES, INC. 401(K) P/S PLAN SUMMARY PLAN DESCRIPTION

RESOLUTION TECHNOLOGIES, INC. 401(K) P/S PLAN SUMMARY PLAN DESCRIPTION RESOLUTION TECHNOLOGIES, INC. 401(K) P/S PLAN SUMMARY PLAN DESCRIPTION 9/23/2014 RESOLUTION TECHNOLOGIES, INC. 401(K) P/S PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION...1 ELIGIBILITY FOR

More information

ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN SUMMARY PLAN DESCRIPTION

ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN SUMMARY PLAN DESCRIPTION ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN SUMMARY PLAN DESCRIPTION January 1, 2015 ASA INSTITUTE OF BUSINESS & COMPUTER TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN

More information

HOUSTON INDEPENDENT SCHOOL DISTRICT 403(b) PLAN HARDSHIP WITHDRAWAL STEP-BY-STEP INSTRUCTIONS

HOUSTON INDEPENDENT SCHOOL DISTRICT 403(b) PLAN HARDSHIP WITHDRAWAL STEP-BY-STEP INSTRUCTIONS HARDSHIP WITHDRAWAL STEP-BY-STEP INSTRUCTIONS The Houston Independent School District 403(b) plan allows for hardship withdrawals in accordance with the IRS 403(b) regulations (Reg. Sec. 1.401(k)-1(d)(3)(i))

More information

401(k) DISTRIBUTION FORM

401(k) DISTRIBUTION FORM Page 1 of 2 401(k) DISTRIBUTION FORM Death Claims These are given special handling by JEM. Please call us at call 1-800-943-9179 for assistance. Participant Information First Name MI Last Employer Street

More information

LANSING COMMUNITY COLLEGE RESTATED TAX SHELTERED ANNUITY PROGRAM SUMMARY PLAN DESCRIPTION

LANSING COMMUNITY COLLEGE RESTATED TAX SHELTERED ANNUITY PROGRAM SUMMARY PLAN DESCRIPTION LANSING COMMUNITY COLLEGE RESTATED TAX SHELTERED ANNUITY PROGRAM SUMMARY PLAN DESCRIPTION Effective January 1, 2009 TABLE OF CONTENTS 1. Introduction...1 2. What is the 403(b) Tax Sheltered Annuity Program?...1

More information

HARDSHIP WITHDRAWAL ELECTION. To the Plan Administrator of., Participant.

HARDSHIP WITHDRAWAL ELECTION. To the Plan Administrator of., Participant. HARDSHIP WITHDRAWAL ELECTION To the Plan Administrator of Re: ( Plan ):, Participant. 1. Withdrawal Election. As permitted by the Plan, I elect to withdraw the following portion of my Vested Account Balance

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Trinity University Defined Contribution Retirement Plan, Trinity University Tax Deferred Annuity Plan INTRODUCTION Trinity University has restated the Trinity University

More information

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION JANUARY 2013

COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION JANUARY 2013 COLGATE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN SUMMARY PLAN DESCRIPTION JANUARY 2013 TABLE OF CONTENTS ARTICLE I PARTICIPATION IN THE PLAN Page Am I eligible to participate in the Plan?... 2 When

More information

NOVA SOUTHEASTERN UNIVERSITY 401(K) PLAN SUMMARY PLAN DESCRIPTION

NOVA SOUTHEASTERN UNIVERSITY 401(K) PLAN SUMMARY PLAN DESCRIPTION NOVA SOUTHEASTERN UNIVERSITY 401(K) PLAN SUMMARY PLAN DESCRIPTION 11/21/11 TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?...1 What information does this Summary provide?...1 ARTICLE

More information

SUMMARY PLAN DESCRIPTION. for the AMBROSE MULTIPLE EMPLOYER RETIREMENT SAVINGS PLAN

SUMMARY PLAN DESCRIPTION. for the AMBROSE MULTIPLE EMPLOYER RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION for the AMBROSE MULTIPLE EMPLOYER RETIREMENT SAVINGS PLAN TABLE OF CONTENTS (1) Eligibility to Participate... 4 (2) Types of Plan Contributions... 4 (3) Compensation... 7 (4) Vesting...

More information

Employee Benefit Manual

Employee Benefit Manual Employee Benefit Manual Issued May 2011 1 Employee Benefit Manual Table of Contents Page INTRODUCTION 5 Chapter 1: GROUP HEALTH AND OTHER BENEFITS Listing of Benefits Available 7 Group Health Rate Plan

More information

Instructions for Requesting a Hardship Withdrawal

Instructions for Requesting a Hardship Withdrawal MGM Resorts 401(k) Savings Plan Instructions for Requesting a Hardship Withdrawal Enclosed are the following items needed to request a hardship withdrawal from the MGM Resorts 401(k) Savings Plan. Please

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Olympia Sport Center, Inc. 401(k) Plan INTRODUCTION Olympia Sport Center, Inc. has established Olympia Sport Center, Inc. 401(k) Plan (the "Plan") to help you and

More information

Optional Retirement Program (ORP) Summary Plan Description

Optional Retirement Program (ORP) Summary Plan Description Optional Retirement Program (ORP) Summary Plan Description April 2012 Table of Contents Establishment............................................... 1 Eligibility...................................................

More information

Summary Plan Description Dow Corning Corporation Employees Capital Accumulation Plan

Summary Plan Description Dow Corning Corporation Employees Capital Accumulation Plan Summary Plan Description Dow Corning Corporation Employees Capital Accumulation Plan INTRODUCTION This Summary Plan Description (SPD) provides detailed information about the Dow Corning Employees Capital

More information

Learn more about qualified retirement plans

Learn more about qualified retirement plans FAQ s Learn more about qualified retirement plans LOANS DISTRIBUTIONS HARDSHIP WITHDRAWALS CONTRIBUTIONS ELIGIBILITY LOANS Can a participant borrow money from a qualified retirement plan? Each plan varies

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Furman University Tax Deferred Annuity Plan INTRODUCTION Furman University has restated the Furman University Tax Deferred Annuity Plan (the Plan ) to help you and

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for The Cooper Union Defined Contribution Retirement Plan INTRODUCTION The Cooper Union has restated the The Cooper Union Defined Contribution Retirement Plan (the Plan

More information

TOWN OF NATICK OBRA 457 DEFERRED COMPENSATION GOVERNMENTAL PLAN DISTRIBUTION FORM

TOWN OF NATICK OBRA 457 DEFERRED COMPENSATION GOVERNMENTAL PLAN DISTRIBUTION FORM TOWN OF NATICK OBRA 457 DEFERRED COMPENSATION GOVERNMENTAL PLAN DISTRIBUTION FORM PARTICIPANT/ ALTERNATE PAYEE INFORMATION DISTRIBUTION REASON PAYMENT METHOD SPOUSE S CONSENT TO DISTRIBUTION (not applicable

More information

Favorite Healthcare Staffing 401 (k) Retirement Plan Summary Plan Description

Favorite Healthcare Staffing 401 (k) Retirement Plan Summary Plan Description Favorite Healthcare Staffing 401 (k) Retirement Plan Table of Contents: Article 1... Introduction Article 2...General Plan Information and Key Definitions Article 3... Description of Plan Article 4...Plan

More information

401(k) Plan Summary Plan Description

401(k) Plan Summary Plan Description 401(k) Plan Summary Plan Description i Table of Contents Background Information... 1 Name of the Plan... 1 Plan Sponsor... 1 Plan Sponsor s IRS Identification Number... 1 Participating Companies... 1 Plan

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for Loyola University Maryland Retirement Plan July, 2014 INTRODUCTION As of 07/01/2014, Loyola has restated the Loyola University Maryland Retirement Plan (the Plan )

More information

TDA WITHDRAWAL APPLICATION

TDA WITHDRAWAL APPLICATION G First Name Address City DIRECT ROLLOVER OR TRANSFER BOARD OF EDUCATION RETIREMENT SYSTEM OF THE CITY OF NEW YORK 65 COURT STREET BROOKLYN, NEW YORK 11201-4965 If you wish to directly rollover any taxable

More information

Distribution Form Subject to Joint & Survivor Annuity

Distribution Form Subject to Joint & Survivor Annuity Distribution Form Subject to Joint & Survivor Annuity Please refer to the Plan s Summary Plan Description (SPD) for reasons distributions that are allowed in your plan. You may review the SPD, your account

More information

OFFICE OF LABOR RELATIONS Deferred Compensation Plan & NYCE IRA

OFFICE OF LABOR RELATIONS Deferred Compensation Plan & NYCE IRA OFFICE OF LABOR RELATIONS Deferred Compensation Plan & NYCE IRA Tel: 212 306-7760 / TTY: 212 306-7707 / Fax: 212 306-7376 Outside NYC: 888 DCP-3113 and 888 IRA-NYCE Online: nyc.gov/deferredcomp and nyc.gov/nyceira

More information

SUMMARY PLAN DESCRIPTION COTY RETIREMENT SAVINGS PLAN

SUMMARY PLAN DESCRIPTION COTY RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION COTY RETIREMENT SAVINGS PLAN PREPARED APRIL 2011 TABLE OF CONTENTS Introduction... 1 Type of Plan... 1 Plan Sponsor... 1 Purpose of This Summary... 1 Who to Contact for Account

More information

NORTHEASTERN UNIVERSITY SUPPLEMENTAL RETIREMENT PLAN Summary Plan Description

NORTHEASTERN UNIVERSITY SUPPLEMENTAL RETIREMENT PLAN Summary Plan Description NORTHEASTERN UNIVERSITY SUPPLEMENTAL RETIREMENT PLAN Summary Plan Description SAVING FOR THE FUTURE To prepare for a secure financial future, faculty and staff need a sound way of saving and investing.

More information

Hardship Withdrawal Form

Hardship Withdrawal Form Hardship Withdrawal Form READ THE ATTACHED IRS SPECIAL TAX NOTICE: IF YOUR PLAN ALLOWS FOR AN ANNUITY OPTION, READ THE WRITTEN EXPLANATION OF QUALIFIED JOINT AND 50% CONTINGENT SURVIVIOR ANNUITY FORM OF

More information

A SUMMARY PLAN DESCRIPTION OF BOSQUE SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN PREPARED BY:

A SUMMARY PLAN DESCRIPTION OF BOSQUE SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN PREPARED BY: A SUMMARY PLAN DESCRIPTION OF BOSQUE SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN PREPARED BY: Modrall Sperling Roehl Harris & Sisk, P.A. P.O. Box 2168 Albuquerque, New Mexico 87103 (505) 848-1800 JANUARY

More information

Retirement Savings Plan BASICS

Retirement Savings Plan BASICS Brighten your outlook. Retirement Savings Plan BASICS Learn about the benefits of a retirement savings plan. Your retirement savings plan can help you prepare for your retirement. Just how much money are

More information

Teachers Retirement System of the City of New York. TDA Program Summary. Tax-Deferred Annuity Program

Teachers Retirement System of the City of New York. TDA Program Summary. Tax-Deferred Annuity Program Teachers Retirement System of the City of New York TDA Program Summary Tax-Deferred Annuity Program Tax-Deferred Annuity Program Teachers Retirement System of the City of New York TRS Tax-Deferred Annuity

More information

DISTRIBUTION FROM A PLAN NOT SUBJECT TO QJSA

DISTRIBUTION FROM A PLAN NOT SUBJECT TO QJSA DISTRIBUTION FROM A PLAN NOT SUBJECT TO QJSA This form must be preceded by or accompanied by the Special Tax Notice Regarding Plan Payments [Code (402(f)) Notice] PLAN INFORMATION Name of Plan: PARTICIPANT

More information

Table of contents. 2 Federal income tax rates. 12 Required minimum distributions. 4 Child credits. 13 Roths. 5 Taxes: estates, gifts, Social Security

Table of contents. 2 Federal income tax rates. 12 Required minimum distributions. 4 Child credits. 13 Roths. 5 Taxes: estates, gifts, Social Security 2015 Tax Guide Table of contents 2 Federal income tax rates 4 Child credits 5 Taxes: estates, gifts, Social Security 6 Rules on retirement plans 8 Saver s credit 12 Required minimum distributions 13 Roths

More information

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE SUMMARY REVIEW FOR THE COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN TABLE OF CONTENTS INTRODUCTION... i HIGHLIGHTS... 2 PARTICIPATION... 2 Eligibility to

More information

AFPlanServ 403(b) Hardship Distribution Authorization Form

AFPlanServ 403(b) Hardship Distribution Authorization Form AFPlanServ 403(b) Hardship Distribution Authorization Form Participant Instructions If your Plan allows loans, you must apply for a loan first. If you are not eligible for a loan from your provider, your

More information

457 Guidebook. Answers to your questions about 457 plans

457 Guidebook. Answers to your questions about 457 plans 457 Guidebook Answers to your questions about 457 plans Neither Nationwide nor any of its representatives give legal or tax advice. For such guidance, please contact your legal or tax advisor. 457 Guidebook

More information

Summary Plan Description

Summary Plan Description Summary Plan Description Prepared for SURA/Jefferson Science Associates 401(k) Plan January 1, 2009 ATLANTA:5088237.2 SURA 12/01/2010 SUMMARY OF MATERIAL MODIFICATIONS December 31, 2010 SURA/JEFFERSON

More information

PARTICIPANT SIGNATURE: DATE SIGNED: DAYTIME PHONE: E-MAIL ADDRESS:

PARTICIPANT SIGNATURE: DATE SIGNED: DAYTIME PHONE: E-MAIL ADDRESS: Standard Insurance Company Retirement Plans, P9A 1100 SW Sixth Avenue Portland OR 97204-1020 971.321.7998 Fax You may request your withdrawal online, if your plan allows. Logon to the Personal Savings

More information

THE FRED HUTCHINSON CANCER RESEARCH CENTER AMENDED AND RESTATED RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION JANUARY 1, 2012

THE FRED HUTCHINSON CANCER RESEARCH CENTER AMENDED AND RESTATED RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION JANUARY 1, 2012 THE FRED HUTCHINSON CANCER RESEARCH CENTER AMENDED AND RESTATED RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION JANUARY 1, 2012 TABLE OF CONTENTS PART I. INFORMATION ABOUT THE PLAN... 1 1. What is the

More information

MSRP Withdrawal Requirements, Options & Beneficiaries

MSRP Withdrawal Requirements, Options & Beneficiaries MSRP Withdrawal Requirements, Options & Beneficiaries You have been deferring into your account for many years, and retirement is just around the corner. How might this money be distributed? What options

More information

TRIUMPH GROUP, INC. (For Non-Bargaining Unit Employees of Triumph Aerostructures, LLC, VAC Industries, Inc. and Vought Commercial Aircraft Company)

TRIUMPH GROUP, INC. (For Non-Bargaining Unit Employees of Triumph Aerostructures, LLC, VAC Industries, Inc. and Vought Commercial Aircraft Company) SUMMARY PLAN DESCRIPTION OF TRIUMPH GROUP, INC. 401(k) PLAN (For Non-Bargaining Unit Employees of Triumph Aerostructures, LLC, VAC Industries, Inc. and Vought Commercial Aircraft Company) Effective January

More information

Hitachi Data Systems Deferred Compensation Plan II - Sales

Hitachi Data Systems Deferred Compensation Plan II - Sales Hitachi Data Systems Deferred Compensation Plan II - Sales Introduction Plan Overview Deferrals to the Plan Benefits Available Investment Measurement Options Benefit Payments Summary of Plan Provisions

More information

401(k) Retirement Plan

401(k) Retirement Plan The Stryker Corporation 401(k) Savings and Retirement Plan gives participants a way to save for their future financial needs. Overview of the Plan The Plan is a type of profit-sharing retirement plan known

More information

SUMMARY PLAN DESCRIPTION ST.PAUL ELECTRICAL CONSTRUCTION WORKERS 401(K) PLAN 2008 RESTATEMENT. for. Includes Participant-Directed Accounts

SUMMARY PLAN DESCRIPTION ST.PAUL ELECTRICAL CONSTRUCTION WORKERS 401(K) PLAN 2008 RESTATEMENT. for. Includes Participant-Directed Accounts 3 SUMMARY PLAN DESCRIPTION for ST.PAUL ELECTRICAL CONSTRUCTION WORKERS 401(K) PLAN Includes Participant-Directed Accounts 2008 RESTATEMENT 3 Revised October 1, 2007 TABLE OF CONTENTS I. INTRODUCTION TO

More information

ASBESTOS WORKERS LOCAL UNION NO. 80 SUPPLEMENTAL PENSION FUND SUMMARY PLAN DESCRIPTION

ASBESTOS WORKERS LOCAL UNION NO. 80 SUPPLEMENTAL PENSION FUND SUMMARY PLAN DESCRIPTION ASBESTOS WORKERS LOCAL UNION NO. 80 SUPPLEMENTAL PENSION FUND SUMMARY PLAN DESCRIPTION INTRODUCTION The Asbestos Workers Local Union No. 80 Supplemental Pension Fund provides retirement benefits to participating

More information

State of Michigan 401(k) & 457 Plan Highlights. Saving Today, Planning for Tomorrow

State of Michigan 401(k) & 457 Plan Highlights. Saving Today, Planning for Tomorrow Saving Today, Planning for Tomorrow The Michigan Public School Employees Retirement System provides competitive benefits and encourages you to take full advantage of them to plan for your future. Your

More information

The Summary Plan Description for the D&B 401(k) Plan

The Summary Plan Description for the D&B 401(k) Plan The Summary Plan Description for the D&B 401(k) Plan FINAL dated April 01, 2010 Table of Contents IMPORTANT INFORMATION... 1 HOW TO REACH YOUR 401(K) PLAN SERVICE PROVIDER... 2 ABOUT YOUR PARTICIPATION...

More information

COVENANT HEALTH 401(k) Plan

COVENANT HEALTH 401(k) Plan COVENANT HEALTH 401(k) Plan Summary Plan Description January 1, 2011 Covenant Health Corporate Benefits 1400 Centerpoint Blvd. Building A, Suite 209 Knoxville, Tennessee 37932 SUMMARY PLAN DESCRIPTION

More information

SUMMARY PLAN DESCRIPTION NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN

SUMMARY PLAN DESCRIPTION NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN SUMMARY PLAN DESCRIPTION NORTHERN CALIFORNIA CARPENTERS 401(K) PLAN As of September 1, 2014 Important Note This booklet is called a Summary Plan Description ( SPD ) and is intended to provide a brief description

More information

Corporation, Securities & Business Law Forum

Corporation, Securities & Business Law Forum March 2009, vol. 54, no. 4 Corporation, Securities & Business Law Forum The newsletter of the ISBA s Section on Corporation, Securities & Business Law The misunderstood limited liability partnership: A

More information

Frequently asked questions

Frequently asked questions Page 1 of 6 Frequently asked questions Distributions and rollovers from retirement accounts Choosing what to do with your retirement savings is an important decision. Tax implications are just one of several

More information

Important Information Morgan Stanley SIMPLE IRA Summary

Important Information Morgan Stanley SIMPLE IRA Summary SIMPLE IRA Summary September 2013 Important Information Morgan Stanley SIMPLE IRA Summary The following is intended to provide you with basic information on the roles and services that Morgan Stanley Smith

More information

Schwab Individual 401(k) Plan Summary Plan Description

Schwab Individual 401(k) Plan Summary Plan Description Schwab Individual 401(k) Plan Summary Plan Description Employer Instructions 1. Complete the Summary Plan Description (SPD) in accordance with the elections you made on the Adoption Agreement. 2. Provide

More information

Preparing For An IRS Audit

Preparing For An IRS Audit MetLife Resources Preparing For An IRS Audit By: Robert C. Sproule, Esq. Assistant General Counsel, MetLife Third Edition why MetLife developed this paper on Preparing For An IRS Audit At MetLife, we re

More information

Tier 2 Elected Officials. Utah Retirement Systems Tier 2 Defined Contribution Plan Highlights

Tier 2 Elected Officials. Utah Retirement Systems Tier 2 Defined Contribution Plan Highlights Tier 2 Elected Officials Utah Retirement Systems Tier 2 Defined Contribution Plan Highlights Table of Contents Membership Eligibility for Elected Officials...2 Contributions...2 Tier 2 Employer Required

More information